Rantings and tirades of a frustrated economist.
It also applies to the product being over produced, degrees. Gee, someone around here wrote a book about Worthless Degrees? That is the book every high school kid and parent should read as part of their summer reading program. Can't wait until the QE stops, and interest rates go up, and the EBT cards stop. Fun times ahead! Yeeeeehawwww!Oh well, back to enjoying the decline!
Everyone knows that the education bubble is going to pop...soon. But it's all up to timing. These reports confirm our theoretical predictions as well as give a better time horizon. Bubbles can go on for longer than anyone predicts and can crash faster than you can imagine. Disclosure: I work in higher education and most schools are pushing for less teaching and more research. We know that this is coming and are making preparations. Colleges will become research institutions while the internet takes over general education. When the crash does happen, the largest, public sector colleges will be fine. It's the smaller, private, liberal arts universities that are going to get hit.
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